I don't have any decent "before" pics of this one, but here's the "after" shots of a Panasonic Sport 500 I've had for a few years. I recently cleaned it up for a friend and found that I'd scavenged some parts from it for other bikes, so I had to dip into the parts bin for the stem, bars, levers, and the nifty Thun Coranado cranks.

Should be a reliable and economical ride.